1987 (3) TMI 64

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....ations by the Commissioner of Income-tax under section 256(2) which relate to the assessment years 1973-74, 1974-75 and 1975-76. The question raised which is common to all the three years is: " Whether the Income-tax Appellate Tribunal was correct in law and on facts in allowing the relief under section 80J in respect of the Viva division of the assessee-company ? " We have heard counsel at ....

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....d we are of the opinion that this aspect of the matter does give rise to a question of law. We, therefore, direct the Tribunal to state and refer the following question of law for the decision of this court : " Whether the Income-tax Appellate Tribunal was correct in law and on the facts in allowing the relief under section 80J in respect of the Viva division of the assessee-company for the ass....

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....so involved and included in the question which we have directed to be referred above and the Tribunal may state the facts relevant thereto also. Counsel for the petitioner submitted that in coming to its conclusion regarding availability of section 80J relief, the Tribunal has also granted the relief to the assessee for one of the three assessment years in respect of borrowed capital which is cont....